KUALA LUMPUR (Dec 28): Apex Equity Holdings Bhd (AEHB) said it intends to dispose of four parcels of freehold land in Shah Alam measuring 23,915.34 square metres for RM37 million cash.
In a filing with Bursa Malaysia, AEHB said its wholly owned subsidiary, Apex Equity Capital Sdn Bhd (AEC) today entered into a sale and purchase agreement with KlangRealty Integrated Sdn Bhd.
AEHB said the proposed disposal is expected to result in a gain of approximately RM4.6 million for the financial year ending Dec 31, 2021.
It said the sales proceeds would be utilised for working capital.
KlangRealty Integrated is an entity registered in Klang, Selangor. The directors of the group are Ong Kwee Lee, Lee Chang Soo, Gan Thiam Kok and On Boon Seng.